Analyst Defends Alibaba (BABA) on Mid-Day Swoon
Alibaba (NYSE: BABA) is attempting to stabilize with Citi coming out to defend the stock following earlier comments on mid-single digits GMV at the Citi conference. The analyst said the comments were taken out of context.
Shares of BABA are down 2% mid-day. Yahoo! (NASDAQ: YHOO) was also lower on the news.